Intercontinental Real Estate Corp. has acquired a fully leased 221,842-square-foot warehouse and distribution facility in Los Angeles’ San Fernando Valley.
The 13-acre property at 20730 Prairie Street in Chatsworth is 35 miles northwest of Downtown Los Angeles. Built in 1975, it operated as a beverage packaging plant for the Ball Corporation until 2018. The vacant property was acquired in 2019 by the seller, a Dallas-based real estate investment firm, which redeveloped and leased the property to a multi-national ecommerce retailer. The property serves as a last-mile delivery facility serving approximately 12.2 million people who reside within a 50-mile radius.
This is the first industrial asset in Los Angeles County for Intercontinental and adds to the firm’s nearly 2 million square feet of industrial holdings on the West Coast. The Boston-based private equity real estate investment firm’s portfolio includes 29 million square feet of commercial and industrial s
